BAT Weekly RSI Strength Calls for More Upside
Basic Attention Token (BAT) has defied all odds and hit a new all-time high of $1.88, rising over 90% in one week while most top 100 cryptocurrencies had a rough week. But, there is even more upside left in store!
At the time of writing this analysis, the weekly RSI indicator has not reached overbought readings. The current RSI value of 74 suggests that we're not at extreme levels of over-speculation, which leaves the door open for BAT's price to increase further.
Here is how BAT's price behaved on the other two occasions it hit a new all-time high:
December 2017 all-time high – the RSI value was only 64, and the price continued to rise for 4 more weeks before it established the cyclical high.
March 2021 all-time high – the RSI value was 87, and BAT's price continued to rise for 3 more weeks before it established the cyclical high.
If BAT repeats the historical precedents, the current bullish run should last at least for 3 more weeks just to give time to the RSI indicator to become overbought.